Comments on: The Future of Financial Economics http://blog.robertsalomon.com/2009/03/18/the-future-of-financial-economics/ Sat, 06 Mar 2010 19:47:14 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Robert Salomon http://blog.robertsalomon.com/2009/03/18/the-future-of-financial-economics/comment-page-1/#comment-1137 Robert Salomon Thu, 19 Mar 2009 14:18:16 +0000 http://blog.robertsalomon.com/?p=167#comment-1137 Good question Michael. Since it is not my area of expertise, I cannot, off the top of my head, point you to a specific paper in behavioral economics or psychology that explicitly discusses economic actors as relative wealth maximizing; however, there is a stream of literature in psychology known as social comparison theory that might help answer some of your questions. Hope that helps. RS Good question Michael. Since it is not my area of expertise, I cannot, off the top of my head, point you to a specific paper in behavioral economics or psychology that explicitly discusses economic actors as relative wealth maximizing; however, there is a stream of literature in psychology known as social comparison theory that might help answer some of your questions. Hope that helps.

RS

]]> By: MPC http://blog.robertsalomon.com/2009/03/18/the-future-of-financial-economics/comment-page-1/#comment-1136 MPC Thu, 19 Mar 2009 13:48:50 +0000 http://blog.robertsalomon.com/?p=167#comment-1136 Professor Salomon, Did you discuss, or are you aware of any papers which discuss, adjusting the assumption that economic actors are wealth maximizing to assuming that economic actors are relative wealth maximizing. Psychological tests have shown that money doesn't buy happiness, keeping up with the Joneses does. Thanks, MPC Professor Salomon,
Did you discuss, or are you aware of any papers which discuss, adjusting the assumption that economic actors are wealth maximizing to assuming that economic actors are relative wealth maximizing. Psychological tests have shown that money doesn’t buy happiness, keeping up with the Joneses does.
Thanks,
MPC

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